China did the world a solid by rapidly curtailing oil imports to try to stave off the pain from these geopolitical decisions. Alas, we have encountered conditions even China cannot manage. The oil futures curve tells the painful story ahead, as you mention.
Best one can do is continue to decouple from the US whenever possible of a trade partner, or if a natural person, leave the US for a developed country or hunker down until there is political will to reverse these suboptimal policies.
Silver lining is this is going to rapidly accelerate the energy transition globally. EVs, renewables, and storage full speed ahead.
Hownis it possible ?
uses same small technique Biden and even Obama used
"Section 301 of the Trade Act of 1974"
just lazily applies it to the whole damn globe instead one or two countries like they did
(aka he's taxing the penguins again)
except all the crude oil markets now are closing at $100 for September and there's no sign it's going down in October or why even before 2029
$100/barrel = $5 gallon of gas, $6 diesel
https://www.scmp.com/economy/china-economy/article/3361206/c...
Best one can do is continue to decouple from the US whenever possible of a trade partner, or if a natural person, leave the US for a developed country or hunker down until there is political will to reverse these suboptimal policies.
Silver lining is this is going to rapidly accelerate the energy transition globally. EVs, renewables, and storage full speed ahead.
Nothing, a great big pile of nothing because you can't even afford food or clothing
Well maybe wrapped up for January will be an impeachment under the tree, all depends if the Dems get the Senate (unlikely)
Billions in refunds to major retailers in six months but no refund to consumers
BTW this is why he's had a 40 Year Tantrum over Tariffs, savvy Japanese businessmen:
* https://www.bbc.co.uk/news/articles/c4gp5pw654lo